Now you can lease a Fiat 500e for zero down and nil {dollars} a month earlier than taxes – or, nicely, a minimum of some prospects can.
Longtime EV drivers will bear in mind a time when Fiat was leasing its 500e for loopy low costs.
On the time, Fiat’s CEO, Sergio Marchionne, was one of many loudest advocates towards EVs – however a part of his advocacy was as a result of he additionally ran one of many highest-emitting automotive corporations, which meant it needed to spend billions of {dollars} to make up the penalties for its noncompliance with air pollution legal guidelines.
Certainly one of Fiat’s strategies to attempt to get into compliance was to promote as many cute, tiny, electrical Fiat 500es as potential in California and Oregon, the one states it was obtainable in on the time. And it did so by providing loopy lease costs, as little as round $69/mo. Many purchasers snatched one up, at the same time as a “spare” automotive, as a result of the lease price far lower than the quantity they’d save in gasoline from leaving their gasser at residence extra typically.
The outdated model of the 500e went the best way of the dodo for the US market in 2019, however then Fiat resurrected the automotive and began promoting the “New 500e” within the US this yr, and it’s obtainable in additional states too.
And now, these instances of loopy lease costs appear to be again, however this time it’s in Colorado, and the lease is even cheaper.
Fiat 500e for $0/mo, $0 down (+tax) in Denver
One dealership in Colorado, Larry H. Miller Chrysler/Dodge/Ram/FIAT Denver, is now providing a 27-month lease for $0/month and $0 down, making the automotive mainly free… nicely, earlier than taxes. Together with taxes, you’ll must pay a $1,297.68 down fee, however the $0/month price carries via the entire lease time period from there. On the finish of the lease, you’re liable for a $395 disposition price, making the overall price slightly below $1,700 for the 27 month lease. That’s below $63/month, on common.
The dealership is ready to provide this low worth attributable to authorities incentives, that are glorious within the state of Colorado (which, like California, additionally has strict emissions guidelines that Fiat needs to achieve compliance with). Not solely does the automotive profit from the $7,500 federal tax credit score, however Colorado additionally has a state credit score of $7,500 on automobiles below $35k MSRP, which the 500e qualifies for (it’s $5k on automobiles >$35k). These credit are retained by the seller, and used to decrease the lease worth.
This all means a automotive with a $32.5k base worth can have just about all the price of the lease coated by incentives, aside from taxes. Fiat calculates the residual worth of the automotive will probably be $17,388.45 on the finish of the lease time period, at which level prospects should buy it for that quantity in the event that they like.
There’s nonetheless restricted mileage of 10,000 miles per yr, after which you pay .30/mile. However the 500e continues to be very a lot targeted on being a metropolis automotive, with its small dimension, 42kWh battery, and round 140-150 miles of vary. So for drivers who desire a right-sized automotive to get round city as an alternative of a ridiculous land yacht, it could possibly be fairly a very good choice.
As a driver who used to have a ~100mi vary Mini E, this was a lot to get round Southern California (and I may discover parking anyplace) – and I didn’t even have 85kW DC charging functionality just like the 500e does. So you probably have a protracted commute that maxes out that vary, you may run afoul of the ten,000-mile limitation, however when you’re utilizing it for a shorter commute and operating round city try to be effective.
If you happen to occur to be close to Denver, you possibly can discover the deal right here on Larry H. Miller’s web site. However when you aren’t in Colorado and nonetheless desire a Fiat 500e, be happy to use our hyperlink to achieve out to native sellers in your space to discover a 2024 Fiat 500e. We think about this gained’t be the one loopy lease deal on them on the market – nevertheless it’s actually the craziest we’ve seen.
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